RCS - First Dev. Resources - Wallal Phase I Diamond Drilling Programme Update

First Development ResourcesAnnouncement

Mon 12:30

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RNS Number : 2369B  First Development Resources PLC  29 September 2025

 

29 September 2025

First Development Resources plc

('First Development", "FDR" or the "Company')

Wallal Phase I Diamond Drilling Programme Update

First Development Resources plc (AIM: FDR) the UK based, Australian focused
exploration company with mineral interests in Western Australia and
Australia's Northern Territory, provides an update on the Company's Phase I
Diamond Drill Programme at the Wallal project in Western Australia's Paterson
Province.

The Company is pleased to report the successful completion of what it believes
is the most technically difficult phase of drillhole 1 which is targeting the
Eastern Magnetic Bullseye anomaly (see Figure 1 & Figure 2). Using the mud
rotary drilling technique, the drillhole has advanced through the Wallal
Sandstone formation which is a major constituent of the sedimentary cover
sequence. Although several technical challenges were encountered within the
Wallal Sandstone, they were effectively mitigated by the expertise and
collaborative efforts of the onsite drilling team and operational support
provided by FDR's drilling partner DDH1 Drilling Limited. The experience
gained whilst drilling the hole will significantly benefit the Company.

Drilling operations have now transitioned to coring which is progressing well.
The hole is now advancing towards the basement geology which is interpreted to
host the magnetic bullseye target (Figure 2).

Figure 1: Aerial view of the Wallal Phase I Diamond Drilling site and the FDR
core logging facility, Paterson Province, Western Australia, September 2025

 

Figure 2: Interpreted cross-section of the Eastern Magnetic Bullseye Anomaly
and the Planned Downhole Trace of Drillhole 1 and the Expected Vertical Depth
to Basement

 

 

 

For further information visit www.firstdevelopmentresources.com
(http://www.firstdevelopmentresources.com) or contact the following:

 First Development Resources plc  Tel: +44 (0) 20 3778 1397

 Tristan Pottas (CEO)

 

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ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources' assets comprise eight granted tenements covering
a total area of 2,314.4km(2). Five of the tenements, comprising three
prospective copper-gold projects, are located in Western Australia (WA) while
the remaining three tenements, comprising a rare-earth element (REE), uranium,
lithium and gold project, are located in the Australian's Northern Territory.
All tenements are wholly owned by FDR. The assets are a mixture of drill ready
and earlier stage exploration.

The WA Projects include the Company's flagship Wallal Project as well as Ripon
Hills and Braeside West Projects situated in the Paterson Province, which is
widely regarded as one of the most productive regions in Australia for the
discovery of world-class gold-copper deposits, and which is home to several
world-class mines and more recent discoveries.

The Selta Project in the Northern Territory is located in an area considered
highly prospective for uranium and rare-earth element mineralisation along
with base and precious metal mineralisation. Numerous companies are actively
exploring within the region.

Beyond the existing portfolio, FDR is actively looking to expand its portfolio
through the acquisition of early-stage exploration projects in Australia.

 

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